Banking in Taiwan as a foreigner: what to bring to open an account, how to pay rent by transfer, and whether mobile payments work

On this page

1. What documents do foreigners need to open a bank account in Taiwan?
2. Why does the bank ask what I'm doing in Taiwan?
3. Do you need a Taiwanese phone number before opening an account?
4. How do ATM transfers between banks work, and how much can you send in a day?
5. What should you check before paying rent by transfer?
6. Can foreigners use LINE Pay, JKOPAY or Apple Pay?
7. What can you pay for with an EasyCard, and how much can it hold?
8. No account yet? Can you use your overseas card in Taiwan?
9. Sending money home and exchanging currency
10. Common mistakes with bank accounts and payments
11. FAQ
12. Sources

When you first arrive in Taiwan, your salary needs somewhere to land and your rent has to be transferred. Even linking a mobile payment app to your phone means having a Taiwanese bank account first. Short on time? Start with this list.

1. You have an ARC: take your ARC (Alien Resident Certificate) and a second ID, such as your passport or National Health Insurance (NHI) card, and open the account in person at a bank or post office counter. The post office wants your personal seal (印章, often called a chop in English). Some banks take a signature instead, so call before you go.
2. No ARC yet: under the Financial Supervisory Commission's rules, you need your passport plus a UI number information sheet (統一證號基資表). The National Immigration Agency issues this printout to show the Unified ID (UI) number Taiwan assigns you. But the post office has suspended this route for now, and every bank applies its own checks. If your ARC is about to come through, wait until it's in your hand.
3. Be ready to explain why you're in Taiwan: carry a certificate of employment, a letter of appointment, a certificate of enrollment or a student ID.
4. Get a Taiwanese phone number first: online banking and mobile payment apps often send verification codes by text.
5. Before your account is open: withdraw Taiwan dollars with your overseas bank card at an ATM that shows the same logo. You can buy an EasyCard at a convenience store and top it up with cash, which is enough for trains, buses and small purchases.
6. Paying rent by transfer: write down the recipient's three-digit bank code and account number, and while you're at it, find out how much you can transfer in a day.

A bank account is only one of the jobs in your first month. We've listed the rest in Your first month in Taipei: the order and deadlines for your ARC, phone, bank account and health insurance.

What documents do foreigners need to open a bank account in Taiwan?

The Financial Supervisory Commission (FSC) sorts its account-opening rules by whether or not you hold an ARC, with a separate line for foreign students. Hong Kong and Macao residents follow the same rules as foreign nationals.

Without an ARC you can't open a checking account. For a Taiwan dollar account, you're expected to apply in person, as a rule.

When we checked on 9 October, the post office's rules were stricter than the FSC's general ones. Foreign nationals and Hong Kong and Macao residents alike need their ARC, a second ID and their seal, and must go in person. The post office won't let anyone apply for them. For now the post office has stopped accepting a passport plus the UI number sheet, with one exception. Foreign students on the Ministry of Education's Huayu Enrichment Scholarship or the Ministry of Foreign Affairs' Taiwan-Europe Connectivity Scholarship can still open an account that way if they bring their scholarship certificate and a letter from their school. Bring at least NT$10 to open the account. A single ten-dollar coin will do.

You apply for the UI number information sheet over the counter at any National Immigration Agency (NIA) service center, with the application form and your passport, original and copy. Someone else can apply for you. Foreign nationals can't apply online, because a passport number changes when the passport is renewed. Hong Kong and Macao residents have it easier. Once 4 hours have passed since they entered Taiwan, they can apply on the NIA website and print the sheet themselves after it's approved.

Hoping to open an account online? The model procedures of the Bankers Association of the Republic of China let foreigners with a chip-enabled ARC open a digital deposit account. The NIA is clear, though, that each bank decides whether to offer this. Check the website of the bank you have in mind before you count on it.

Why does the bank ask what I'm doing in Taiwan?

When the clerk asks where you work or which school you attend, they're following the anti-money laundering regulations for financial institutions. When a bank verifies a customer, it has to understand the purpose and nature of the account, and it may ask for more information depending on the case. The regulations on deposit accounts are blunter. If your documents look doubtful, you won't show other supporting papers, or something seems off and you can't give a reasonable explanation, the bank should refuse to open the account.

Those same regulations list signs of a suspicious account, and two of them matter on the day you apply. One is contact details that can't be checked by any reasonable means. The other is applying for accounts here and there within a short time with no reason you can explain.

So before you head out, get these together:

• If you work: a certificate of employment, letter of appointment or employment contract.
• If you study: a certificate of enrollment, student ID or admission letter.
• Contact details: a Taiwanese mobile number and the address where you actually live.
• Seal: the post office requires one; some banks accept a signature instead.

Rather than trying three banks in one day and hoping for luck, pick one and see it through. If your Chinese isn't strong, look for a bilingual branch. The FSC says 31 banks now have at least one each.

Do you need a Taiwanese phone number before opening an account?

We couldn't find any official rule along the lines of "no phone number, no account", and banks differ in practice. Where people really get stuck is after the account is open, because so many steps involve a text message. Electronic payment providers are required by law to confirm your mobile number. When online banking sends money to an account you haven't registered in advance, a one-time password (OTP) sent by text can be used to confirm it's you. And before JKOPAY (街口支付) will let you link a bank account, you need to switch on online banking, transfers to non-designated accounts and OTP text messages.

Our advice is to sort out the number before you go to the bank. It can save you a second trip. Getting a SIM card or eSIM is covered in How to get a phone number in Taiwan: prepaid SIM, eSIM or monthly plan, and the ID you need.

How do ATM transfers between banks work, and how much can you send in a day?

Once the account is open, go back to the same bank with your passport, your passbook and the seal you registered, and apply for an ATM card. Online banking is set up there too. For that, bring your ARC as well.

At the ATM, insert the card, enter your PIN and choose 轉帳 (transfer). Then key in the recipient's three-digit bank code, their account number and the amount. Press confirm and hold on to the receipt. You can look up any bank's code on the website of the Financial Information Service Co. (FISC), the company that runs Taiwan's interbank network. Interbank transfers work 24 hours a day, and the fee follows your bank's price list.

Know your limits before rent day. The Bankers Association's guide for foreigners says an ATM card can send at most NT$30,000 a day to a non-designated account, meaning one you haven't registered with your bank. To send more, return to your branch first and register the recipient's account as a designated account. Online and mobile banking have separate caps. The Bankers Association's security standards set the ordinary limit for transfers to non-designated accounts at NT$50,000 per transfer, NT$100,000 a day and NT$200,000 a month. Your own bank has the final say on the actual figures, so if your rent is high, ask before it falls due.

If a transfer goes wrong, follow FISC's procedure. If you typed the wrong account number and the money has already gone through, contact your own bank. It will reach out to the receiving bank and ask the recipient to send the money back. If the money left your account but never arrived, look at the receipt. When it shows success, ask the receiving bank whether the money was credited; when it shows a failure, ask your own bank for a refund. If someone tricked you into making the transfer, call the police right away and tell your bank.

What should you check before paying rent by transfer?

In the Ministry of the Interior's standard-form residential lease, rent is paid in cash, by bank transfer (with the bank, account name and account number filled in) or by some other method. When you sign, look at which box is ticked. Transfer only once the account name matches the landlord or company named in the lease. Keep a receipt after every payment, or take a screenshot in your banking app. That's your record of payment.

Don't send a holding fee or deposit to an account you don't know before you've seen the place and signed the lease. For what to ask at a viewing, work through Choosing a Share House in Taipei: 10 Things to Check Before You Move In one item at a time.

At Seal Co-living, the deposit is 1 month of rent, plus a one-time move-in fee of NT$1,500 and a monthly utilities fee of NT$1,000. If you don't have a Taiwanese account yet, just ask us at the viewing how and when to pay.

Can foreigners use LINE Pay, JKOPAY or Apple Pay?

It depends on which one. JKOPAY's official FAQ says you can register with an ARC, LINE Pay's website doesn't say either way, and Apple Pay comes down to your card. Most of them need a Taiwanese phone number, an ARC and a local bank account first. The reason is the law: an electronic payment account has to confirm your phone number and identity (an ARC is checked with the Ministry of the Interior), and accounts with higher limits must also be linked to a bank account or credit card in your own name.

• JKOPAY: its official FAQ states that foreigners with an ARC can register with it. If you add a credit card, only physical cards issued in Taiwan are supported.
• LINE Pay: the sign-up steps on its website are phone number verification, ID card verification and financial verification. Nothing says whether an ARC works, so try it in the app or ask LINE Pay's customer service. The LINE Pay Money terms are clear on one thing, though: foreign credit cards won't pass its card identity check.
• Apple Pay: works in shops showing the Apple Pay mark, as long as your card comes from an issuer that supports Apple Pay. The regions Apple lists include Taiwan, Japan, South Korea, Hong Kong and Malaysia.
• Taiwan Pay: open a local bank's mobile banking app and scan the Taiwan Pay QR code displayed at the shop to pay. It also handles transfers and bill payments.
• Mobile wallets from Japan and Singapore: in July 2026 the Bankers Association announced that member banks are rolling out TWQR Inbound, so wallets from these two countries can pay at convenience stores, department stores and other shops in Taiwan.

What can you pay for with an EasyCard, and how much can it hold?

You can buy an EasyCard (悠遊卡), Taipei's stored-value card, at 7-ELEVEN, FamilyMart, Hi-Life and OK Mart, or at the information counter in any Taipei Metro station, then top it up with cash. Besides the MRT and buses, convenience stores, supermarkets and gas stations take it.

A card holds at most NT$10,000, the legal cap for each stored-value card. Automatic top-up needs a bank's co-branded EasyCard, or a link to an Easy Wallet (悠遊付) account or your own bank account, so it has to wait until your account is open. For how to keep fares down, see New to Taipei? How to get around by MRT, bus, YouBike, TPASS and taxi.

No account yet? Can you use your overseas card in Taiwan?

Yes. Before your account is open, the easiest way to get cash is to take your overseas credit or debit card to an ATM and withdraw Taiwan dollars. If the card has a logo such as Visa, Mastercard, Plus, Cirrus or UnionPay, look for an ATM with the same one.

When you pay by card in a shop, the FSC's Q&A says a merchant that accepts cards can't refuse your card, cap how much you charge or add a fee without good reason. Linking an overseas card to a mobile payment app is the hard part. The JKOPAY and LINE Pay Money limits are in the mobile payment section above.

If you later want a Taiwanese credit card, you'll need a salary withholding statement or other proof of financial means, a copy of your passport and a copy of a valid ARC. The card issuer decides whether to approve you. The Bankers Association has gathered the links to the foreigner-friendly card pages (外籍人士辦卡友善專區) of 30 card issuers, and you can click through them one by one from there.

Sending money home and exchanging currency

To send money home, go to a bank with your passport and ARC. Each bank publishes its own handling and cable fees.

In the regulations, exchanging Taiwan dollars for foreign currency or back is called 結匯 (foreign exchange settlement). For NT$500,000 or more, you fill in the Central Bank's foreign exchange declaration form (外匯收支或交易申報書). If you don't have an ARC, or yours is valid for less than a year, the foreign exchange rules count you as a non-resident. As a non-resident, each exchange of up to the equivalent of US$100,000 can be done on the spot once the form is filled in.

Foreign currency accounts have the same opening rules as Taiwan dollar accounts. With a Taiwanese chip ATM card, you can take US dollars, Hong Kong dollars, Japanese yen or renminbi out of foreign currency ATMs around Taiwan (the currencies depend on the machine) without applying in advance.

If you fly in or out carrying foreign currency worth more than US$10,000, declare it to customs. Currency you don't declare is confiscated.

Common mistakes with bank accounts and payments

1. Turning up at the bank with only a passport, without getting the UI number information sheet first. For now, the post office won't accept even that combination.
2. Giving the bank a phone number or address where you can't actually be reached.
3. Rent that's over your limit for transfers to non-designated accounts, which you only find out on the day it's due.
4. Sending the deposit before the lease is signed.
5. Not taking your new card to the bank after your ARC is extended or you're given a new UI number. The regulations name "the ARC used to open the account is cancelled before it expires, or the holder overstays" as one of the criteria for an unusual account. The NIA also warns that if your UI number isn't updated, your salary may not reach your account. For ARC and address changes, see ARC (Alien Resident Certificate) application and address change: what to bring and how long you have.

FAQ

Sources

(All accessed on 9 October 2026)

1. 1.Financial Supervisory Commission, Banking Bureau: Q&A on opening deposit accounts (foreign individuals, including overseas Chinese and Hong Kong and Macao residents; foreign students)banking.gov.tw/ch/home.jsp?id=668&parentpath=0,644
2. 2.FSC Banking Bureau: Q&A collection (114-07-24, ROC calendar; bilingual branches, card surcharges, declaring foreign currency you carry)banking.gov.tw/websitedowndoc?file=chbanking/202507281654100.pdf&filedisplay=1140724%20%E6%9C%AC%E5%B1%80QA%E5%95%8F%E9%A1%8C%E9%9B%86.pdf
3. 3.Regulations Governing the Deposit Accounts and Suspicious or Unusual Transactions (存款帳戶及其疑似不法或顯屬異常交易管理辦法; amended 115-08-31, ROC calendar), Articles 4 and 13law.moj.gov.tw/LawClass/LawAll.aspx?pcode=G0380199
4. 4.Regulations Governing Anti-Money Laundering of Financial Institutions (金融機構防制洗錢辦法; amended 110-12-14, ROC calendar), Article 3law.moj.gov.tw/LawClass/LawAll.aspx?pcode=G0380252
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6. 6.Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions (外匯收支或交易申報辦法; amended 111-12-26, ROC calendar), Articles 2, 3 and 4law.moj.gov.tw/LawClass/LawAll.aspx?pcode=G0450009
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11. 11.The Bankers Association of the Republic of China: model procedures for banks opening digital deposit accounts online (amendment announced 2026-09-17)ba.org.tw/memberStandard/details?id=38
12. 12.The Bankers Association of the Republic of China: security control standards for electronic banking at financial institutionsba.org.tw/memberStandard/details?id=79
13. 13.The Bankers Association of the Republic of China: TWQR Inbound service launch (2026-07-15)ba.org.tw/notice/details?id=720
14. 14.Financial Information Service Co. (FISC): ATM servicesfisc.com.tw/TC/Business?Caid=b38613b7-e55d-4841-bba7-25643821fe1f&CaStyleId=4
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17. 17.Ministry of the Interior: mandatory and prohibited provisions for standard-form residential lease contracts (住宅租賃定型化契約應記載及不得記載事項; amended 114-04-18, ROC calendar)glrs.moi.gov.tw/LawContent.aspx?id=GL000907
18. 18.JKOPAY: FAQjkopay.com/application/faq
19. 19.LINE Pay Taiwan official websitepay.line.me/portal/tw/main
20. 20.LINE Pay Money user terms of serviceterms2.line.me/linepay_EPI_User_TOS?lang=zh-Hant&country=TW
21. 21.Apple Support: countries and regions that support Apple Paysupport.apple.com/zh-tw/102775
22. 22.Apple Support: Apple Pay participating banks and card issuers in Asia-Pacificsupport.apple.com/zh-tw/102897
23. 23.EasyCard Corporation: standard EasyCardeasycard.com.tw/easycards?cls=1506477783